Santander increases mortgage market share

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Santander increases mortgage market share

News Article Date: Friday 30th of April 2010

Spanish banking giant, Santander, saw its mortgage market share increase in the first quarter to 20%. The bank said gross mortgage lending increased to £5.7 billion from £5.2 billion in the same three month period a year ago, when it had a 15% share of the market.
Click here to send a Spanish mortgage enquiry The bank was Britain’s second- largest lender by stock of mortgages last year. Santander became a household name in the UK when it acquired Abbey for £9.5 billion back in 2004. In July 2008, it rescued troubled mortgage lender, Alliance & Leicester (A&L), and a few months later, it took ownership of Bradford & Bingley’s savings business and branch network. Earlier this week, the bank posted a 6% rise in first quarter net profit, fuelled by strong growth in Brazil and the UK. The bank said net profit totalled €2.215 billion (£1.93 billion) against €2.10 billion in the same period a year ago.
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